President Barack Obama imposed the biggest package of U.S. economic sanctions yet on Russia on Wednesday, hitting Russia’s largest oil producer Rosneft and other energy, financial and defense firms, with what he called significant but targeted penalties.
Obama’s latest round of sanctions came after close consultations with European leaders, who announced a less-ambitious package. The [...]
Russia has failed to take steps to end the Ukraine conflict, President Barack Obama said Wednesday in announcing expanded sanctions targeting two banks, two energy companies, Ukraine separatists and defense companies.
European Union leaders also said they intended to increase sanctions, signaling growing Western concern over Russia’s continued support for separatists battling the [...]
The first age of globalization lasted from 1870 to 1914. Now there are signs that we are seeing the beginning of the end of the second age of globalization.
“Our economic landscape, like our political one, will become more volatile and less predictable. Get ready for a bumpy ride.”
With global economic integration seemingly in [...]
While the Obama administration has touted U.S. efforts to isolate Russia economically and diplomatically, it has quietly found another way to slap Moscow for its annexation of Crimea.
Nearly a month ago, with no public notice, a small office in the Commerce Department abruptly stopped approving applications from U.S. firms that want to sell Russia [...]
As the Swiss ski resort prepares to host its next who’s who of decision-makers on Jan. 22-25, the World Economic Forum’s abiding belief that “improving the state of the world” is compatible with closer integration has taken a beating.
The financial crisis that struck in 2008 raised questions about whether globalization was more of a [...]
The European Union’s top antitrust enforcer on Thursday threatened to formally charge the Russian natural gas giant Gazprom with restricting trade and price gouging, raising the stakes in a two-year investigation that has already created tensions with Russia’s president, Vladimir V. Putin.
“We suspect that Gazprom has been hindering the free flow of gas [...]
In the three decades before the 2008 financial crisis, individual national economies became increasingly global: banks, companies and consumers overseas had a direct impact on the economy here in the United States.
But in recent years, the amount of money flowing across borders has drastically decreased. According to a new report, this represents a drastic [...]
As public evidence mounts that the Chinese military is responsible for stealing massive amounts of U.S. government data and corporate trade secrets, the Obama administration is eyeing fines and other trade actions it may take against Beijing or any other country guilty of cyberespionage.
According to officials familiar with the plans, the White House will [...]
Once the world admitted China to the World Trade Organization in 2001, we welcomed the country into our free-markets. We trusted the global economy would evolve toward free and fair trade. We then set our policies on cruise control, assuming the world would follow the U.S. model.
Instead, China got a hand on the steering [...]
What was that you were saying about globalization being inexorable?
A quick look at a series of under-appreciated recent stories – a Sino-Japanese territorial spat’s real economic consequences and a drop in both global trade and cross-border lending – shows a world becoming less tightly integrated and a lot more economically unpredictable.
The idea that [...]